Tungsten Market Update: Rational Corrections Amid Supply Chain Easing

Analysis of latest tungsten market from Chinatungsten Online

Since the end of May, tungsten prices have entered a rational correction cycle after trading sideways at high levels, with some relief in the market supply chain tension. 

With a noticeable retreat in quotations from large tungsten enterprises at the beginning of the month, market sentiment has been under pressure, leading to more selling for cashing out. Overall circulation resources have rebounded slightly. Relatively speaking, downstream end-user consumption attitudes have been cautious and subdued.

According to information from Chinatungsten Online, after Xiamen Tungsten suspended quotations in late May, the long-order price announced at the end of May was $32,571.4/mtu. Therefore, the procurement price for APT long orders in this round has been reduced by $8.1/mtu compared to last week.

Relevant professionals indicate that the adjustment of this round of long-order quotations is mainly based on comprehensive considerations of the actual resource volume in the market, the acceptance of demand, reasonable cost control, and the sustainable and healthy development of the industry. It is basically within a reasonable adjustment range and also provides certain adaptation space for downstream alloy plate and other industries.

Prices of tungsten products on June 5, 2024

Picture of tungsten acid 

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